We compare the random preference, Fechner, and constant error (or "tremble") approaches to the stochastic modelling of choice under risk. Various combinations of these approaches are used with expected utility and rank-dependent theory to generate a set of econometric models. These are estimated...

A theory is proposed in which preferences are conditional on reference points. Preferences conditional on any given reference point satisfy the usual assumptions of cunsumer theory. Apart from a continuity condition, the only additional restriction is to rule out cycles of pairwise choice. The...

We compare the random preference, Fechner, and constant error (or "tremble") approaches to the stochastic modelling of choice under risk. Various combinations of these approaches are used with expected utility and rank-dependent theory to generate a set of econometric models. These are estimated...

Following Sen, social choice theorists often formulate rights in terms of relationships between individuals' preferences and social preferences. An alternative “procedural” formulation treats rights as properties of game forms. This paper reviews the debate between the proponents of these...

Plott and Zeiler (2005) report that the willingness-to-pay/willingness-to-accept disparity is absent for mugs in a particular experimental setting, designed to neutralize misconceptions about the procedures used to elicit valuations. This result has received sustained attention in the...

This paper defines and analyses the concept of a 'ranking problem'. In a ranking problem, a set of objects, each of which possesses some common property P to some degree, are ranked by P-ness. I argue that every eligible answer to a ranking problem can be expressed as a complete and transitive...

We investigate conflicts between wildlife conservation and recreational use that can occur at open-access sites when visitors dislike crowding. A theoretical model is proposed which determines the spatial distributions of visitors to a beach, given their willingness to walk to avoid crowding and...

I defend the claim, made in a previous paper, that ‘a Humean can be a contractarian’, against the criticisms of Anthony de Jasay. Jasay makes a categorical distinction between ‘ordered anarchy’ (which he associates with Hume) and ‘social contract theory’. I argue that Hume’s...